In fact, Emerson executives spend 60% of their time and energy on planning and execution. Emerson's unique corporate culture looks completely different from AXA's market flexibility.
"Integration is not a sudden cultural coverage, but a process of integration, a process of improvement and improvement, optimization and optimization on the basis of Excellence." Ren Jinhan, Chairman of Emerson Electric (China) Investment Co., Ltd., summed up his experience in M&A, saying that the principle of "respecting the culture at that time, taking the market as the guide, and completing it in the most effective way according to the local culture" may make people feel "empty", but Emerson can also tell you their actual practice: in American companies, a detailed employee opinion survey is conducted every two years, which has just begun in China, and the cultural habits of China employees are fully considered. Another example is the human resources evaluation system, which has been greatly adjusted since it arrived in China.
Perhaps in Emerson's view, it is inevitable that the running-in period will be impacted, and enterprises need to choose an open and inclusive attitude. "In China, we merged the smaller Libert into the larger and stronger AXA Electric. In this process, some employees did choose to leave Libert, but AXA Electric quickly filled the vacancy. The success of the new company includes its corporate culture, the original management structure and so on. The purpose is to continuously improve the company's performance in a highly competitive environment. " The management thinks so.
POR(PresidentOperatingReports) is an effective management method used by Emerson in management control and follow-up, which has been incorporated into the management essence of the company. It requires all branches to report to the headquarters on a regular basis, and the monthly President's Report (POR) submitted by each branch must report the performance and current problems of the branch. In the quarterly political meeting of the president of the branch, the short-term business and planning issues will be discussed emphatically, and the performance management of its employees will be evaluated by clear goals and actions. Now, the senior leaders of Emerson Network Energy Co., Ltd. excitedly told reporters that this scientific management method has been successfully "transplanted" to the new company: "In the half year of using' POR', we feel that it has achieved remarkable results. It allows me to see what is wrong with the company's operation from the operational point of view, so that we can take timely solutions. It can help me predict business risks and make our business more stable, "said the former AXA management. "We try to achieve harmony and unity with Emerson's management model." It is understood that after the merger, AXA will make a detailed plan every month, through which we can accurately grasp all links and predict future market changes.
"meritocracy" can be said to be another management principle of Emerson in the post-merger period. Perhaps Emerson's development history can also be understood as a successful M&A history to some extent. In 2003, many of the 60 subsidiaries owned by Fortune Global All-Star 500 were acquired through M&A. It is reported that several of the 13 operation and management teams in the high-level structure of the headquarters are from M&A companies, such as J-P.L. Montupet, Executive Vice President of Emerson; Senior Vice President E.K.Feeney (the highest head of Emerson's global network energy business), Vice President H.C.Bevis, etc. The conflict of foreign cultures, the reconciliation of policies and the talent structure of branches have created an open and inclusive corporate culture of this enterprise. "These successful experiences tell Emerson that as long as the managers are excellent talents, the company will appoint people on their merits, regardless of their position, and lead Emerson and its employees to create good performance with the best talents." Ren, chairman of Emerson Electric (China) Investment Co., Ltd. said.
As early as 1950s, Emerson's management started "acquisition". Emerson diversified its business development through mergers and acquisitions in various industries, which not only increased the company's sales channels, but also accelerated its business growth. After integrating more than 60 subsidiaries, Emerson has eight brands in five major businesses. Some people think that M&A has made Emerson what it is today, but Emerson thinks it needs to be emphasized that M&A is only one of the ways for enterprises to seek development. Emerson's development "engine" can last only if he chooses his own development mode by "making the best use of the situation".